A 2017 federal tax deduction for prepaying anticipated 2018 state income taxes? Not likely!

In anticipation of the possible elimination or reduction of the state and local income tax deduction, some are suggesting that taxpayers should prepay their 2018 state taxes in 2017. Here’s why that probably won’t work.
Source: The Tax Adviser

A 2017 federal tax deduction for prepaying anticipated 2018 state income taxes? Not likely! December 24th, 2017Webmaster